Norwood Financial Corp Announces Cash Dividend
Norwood Financial Corp (NWFL) has declared a cash dividend of $.26 per share, payable on November 1, 2021, to shareholders of record as of October 15, 2021. This dividend matches the previous quarter's payment and represents a 4.0% increase from the same period in 2020. CEO Lewis J. Critelli emphasized the company's robust financial strength and capital position that supports this dividend.
As of June 30, 2021, Norwood's total assets stood at $2.0 billion, with loans outstanding at $1.4 billion and total deposits of $1.7 billion.
- Dividend declared at $.26 per share shows consistent returns to shareholders.
- 4.0% increase in dividend compared to third quarter of 2020 indicates financial growth.
- Strong capital position with total assets of $2.0 billion enhances investor confidence.
- Potential risks related to financial stability amid economic uncertainties.
- Concerns over future ability to maintain or increase dividends based on market conditions.
HONESDALE, Pa., Sept. 17, 2021 (GLOBE NEWSWIRE) -- Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (the “Company”) (NASDAQ Global Market: NWFL) and its subsidiary, Wayne Bank, today announced that the Board of Directors declared a $.26 per share cash dividend payable on November 1, 2021 to shareholders of record as of October 15, 2021. The $.26 per share equals the per share dividend declared in the prior quarter and represents a
Mr. Critelli commented, “The Board is extremely pleased to provide our shareholders with this quarterly dividend. It reflects the Company’s financial strength and strong capital position which has contributed to our solid performance.”
Norwood Financial Corp, through its subsidiary, Wayne Bank operates fourteen offices in Northeastern Pennsylvania and sixteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of June 30, 2021, the Company had total assets of
Forward-Looking Statements
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to a number of risks and uncertainties which may cause actual results to differ materially from those currently anticipated, and therefore readers should not place undue reliance on any forward looking statements. Those risks and uncertainties include, but are not limited to, our ability to pay or increase cash dividends in the future, the continued financial strength, solid performance and strong capital position of the Company, changes in federal and state laws, changes in the absolute and relative levels of interest rates, the potential adverse impact the COVID-19 pandemic may have on the Company’s financial condition and results of operations, the ability to control costs and expenses, demand for real estate, costs associated with cybercrime, general economic conditions and the effectiveness of governmental responses thereto. The Company does not undertake and specifically disclaims any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
| CONTACT: | William Lance Executive Vice President and Chief Financial Officer NORWOOD FINANCIAL CORP (570) 253-8505 www.waynebank.com |
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